ESTABLISHMENT AND OPERATION OF ACCOUNTS AND PURCHASE OF

In document TOTALISATOR RULES. Tabcorp ACT Pty Ltd ABN August 2015 (Page 32-35)

General

4.1 For the avoidance of doubt, as per rules 3.2(a), and 6.5(h), the persons listed at those rules are not authorised to open an Account.

4.2 An Account may be opened and a Card may be purchased for a minimum value determined by the Betting Operator from time to time.

4.3 For the purposes of opening an Account or purchasing a Card or a Betting Voucher, Investors must complete all documentation and provide all information required by the Betting Operator.

4.4 A receipt will be given for the funds then deposited. Unless the amount of any deposit is a multiple of five (5) cents, the deposit will be rounded down to the nearest five (5) cents.

Provisions Relating to Accounts and Cards

4.5 An authority will be issued to the value of the deposit to those Investors who the Betting Operator approve may open an Account.

4.6 An Investor who is approved as an Account holder may be required to provide a PIN for an Account

4.7 Subject to Rule 4.3 an Account may be opened or a Card purchased with:

(a) Cash, or

(b) Travellers' cheques or cheques made payable to the Betting Operator, or

(c) Betting Vouchers issued by the Betting Operator, or (d) Electronic transfer of funds

but no Investment or withdrawal of funds against deposits referred to in Rule 4.7(b) will be accepted up to seven (7) banking days after the deposit and provided the Betting Operator has not received notice of dishonour.

4.8 The Betting Operator shall be entitled to refuse any application for an Account without providing a reason for refusal.

4.9 A separate record will be kept of each Account Card and of transactions made against it.

4.10 The records referred to at Rule 4.9 will be retained:

(a) in the case of computerised Account records for a period of twelve (12) months;

(b) in the case of computerised Card records for a period of not less than three (3) months;

(c) in the case of voice-tape records, for a period of fourteen (14) days;

after the date of the transactions concerned.

4.11 Statements detailing the transactions made using an Account will only be forwarded upon the request of the Investor and will be subject to such charges as are nominated from time to time by the Betting Operator.

4.12 An Account holder must notify the Betting Operator in writing of a change of name and/or address within fourteen (14) days of the change.

4.13 Subject to these Rules an Account holder may withdraw any part of the Credit Balance from or close an Account and receive any Credit Balance upon:

(a) presentation of the Account Card to the Betting Operator and upon provision of the appropriate PIN; or

(b) presentation of a statutory declaration attesting to the

circumstances of the loss of the Account Card, together with such proof of identity of the person as the Account holder as may be reasonably required by the Betting Operator;

provided that if any part of the Credit Balance is represented by deposits that are uncleared funds or an electronic funds transfer from a credit card, that part may not be withdrawn by an Account holder.

4.14 The Betting Operator may in its absolute discretion close any Account without giving reasons and without prejudice to the generality of the foregoing may exercise such discretion if:

(a) the Account has not been operated for at least twenty-four (24) months or has a zero balance provided that before any Account is closed pursuant to this sub-rule, the Betting Operator shall provide three (3) months written notice to the Account holder of its

intention to do so;

(b) the Account has been operated in breach of any Rules or policies made by the Betting Operator;

(c) more than one of the same type of Account is opened for the same person;

(d) incomplete or inaccurate details are given on the application form for the opening of the Account; or

(e) the Account holder has breached any law which in the reasonable opinion of the Betting Operator would warrant the closure of the Account.

4.15 Upon the closure of an Account pursuant to Rule 4.13 the Betting Operator shall transfer any Credit Balance to the bank account nominated by the

Account holder on the original application form or as may have been notified to the Betting Operator.

4.16 In the event that the bank account referred to in Rule 4.15 is no longer open, the Betting Operator shall take such steps as it shall consider reasonable to obtain an address for settlement of the Account and shall in any event serve written notice on the Account holder at the address last notified to the Betting Operator that the bank account has been closed and that the Credit Balance of the Account if not claimed by the Account holder within a period of not less than 12 months shall be treated as unclaimed moneys for the purpose of any applicable legislation (including the Unclaimed Moneys Act 1962 (Victoria)).

4.17 Subject to these Rules and any statutory requirement an Account holder may close an Account upon written request.

4.18 Upon closure pursuant to Rule 4.16 the Betting Operator shall transfer any Credit Balance to the address last notified to the Betting Operator by the Account holder.

4.19 Cards shall be transferable and shall only be valid for seven (7) days from the date of purchase. Any Credit Balance on a Card during the period of validity shall be paid to the bearer of the Card upon presentation for payment to the Betting Operator.

4.20 At the expiration of the period of validity any Credit Balance on a Card may be claimed by the bearer for a period of twelve (12) months from the date of purchase of the Card by lodging a claim in the approved form with the Betting Operator.

4.21 In making payments under Rules 4.14, 4.17, and 4.19 the Betting Operator shall not be obliged or concerned to inquire as to the legal rights of the bearer of the Account Card or Card as the case may be or to the ownership or possession of the Account Card or Card as the case may be.

4.22 At the expiration of the period of twelve (12) months from the date of purchase of the Card the Credit Balance of an unpresented Card shall be forfeited to the Betting Operator or disposed of in accordance with any applicable legislation.

4.23 If an Account does not have any Investments recorded against it for a period of six (6) months or more, or if an Account is used predominantly for a purpose of other than placing Investments, the Betting Operator may charge against the credit balance of the Account a monthly account management fee, the amount of which shall be determined by the Betting Operator, for a maximum of eighteen (18) months or until the account balance is zero, whichever occurs first, provided that before any monthly account management fee is charged pursuant to this Rule the Betting Operator shall provide thirty (30) days written notice to the Account holder of its intention to do so.

Provisions Relating to Betting Vouchers

4.24 Vouchers are issued to a minimum value as determined by the Betting Operator from time to time to provide a credit on presentation to the Betting Operator.

4.25 On presentation the bearer will be entitled to make Investments to the full credit amount of the Betting Voucher either in Cash Outlets or in the form of credit to an Account or Card.

In document TOTALISATOR RULES. Tabcorp ACT Pty Ltd ABN August 2015 (Page 32-35)

Related documents